You Can Now Keep Your Bitcoins In A Bank - page 12.

cybersofts

copper member

Activity: 658

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Bank + Bitcoin = Centralization Shocked

Who needs a bank to hold his/her bitcoin, anyway?
Once you give a bank your bitcoin you no longer have control over it.
This is a fools idea, I don't like it and I don't support it. The bitcoin was meant to be free from banks.
With bitcoin, you should be your own bank. You don't need a bank anymore, to hold your bitcoins for what, security?
Once you handle your bitcoins to a bank you no longer have privacy and control over your asset, and why would you even do that, huh?

mornabo

hero member

Activity: 1148

Merit: 504

Quote from: arnaudel98 on October 20, 2018, 01:42:23 AM

Quote from: Rossy Akbar on October 13, 2018, 11:00:14 AM

Really excited to heard that your bank country has announce that accepting bitcoin, but the problem is in my country, it was really hard for the country bank in here accepting bitcoin, I don't know why, maybe they just think that cryptocurrencies just usable for the crime which is not true. I really hope that my country will follow the rules as your country did.

Amazing news i so happy that bitcoin is growing now and i hope more people will be aware about bitcoin and cryptocurrency. Let the people store there bitcoin on banks but i won't do that.

glad to hear that, I hope there will be many banks that also follow in their footsteps. the government must begin to realize that they
will not be able to stop the development of bitcoin, and they must be friendly with bitcoin, for their mutual interests and benefits

cluit

legendary

Activity: 1176

Merit: 1016

Quote from: Rune on October 28, 2018, 10:52:34 PM

Sounds like you give the bank your money and you get back a IOU not that there really storing you money good way to get ripped off like always.
Here is my money give it back to me whenever I ask for it if you still have it thanks!!

There needs to be a better solution to storing large sums of money so trusting the bank is not a good looking option. its a terrible option but people still see it as there best bet.

Why will I even ever have to trust an institution that has been reaping me off right from the onset? It seems the banks are just the next biggest scammers on the lose right now and they still want to find a way to be in the center of it all, for the gullible ones to end up seeing it as a means for holding their cryptocurrency when you simply can just be your own bank and that is the freedom that this space brings.

I wonder why anyone would see freedom and decide to say, No, all they want is slavery. This as far as I am concerned, is not necessary and the banks should come out with better ideas to be a part of the space and not in this way.

Jateng

full member

Activity: 1337

Merit: 154

PredX - AI-Powered Prediction Market

Quote from: Hydrogen on September 12, 2018, 03:19:17 AM

Quote

Summary: Citibank has created something they call a "digital asset receipt(DAR)" which could allow purchasers of bitcoin to have banks hold their coins. The details aren't clear. There isn't much information posted here about minimum purchasing amounts or who digital asset receipts will be marketed to. Its nice to see innovation and new offerings for crypto enthusiasts. Although I have a feeling these digital asset receipts might come bundled with $100,000 dollar minimum investments and cater only to high(er) end demographics.

I would guess some would opt for DAR's if they could provide insurance on bitcoins and crypto up to limited amounts.

This is a good improvement. There is a bank that is supporting bitcoin. Crypto exposure is unstoppable. Big people who have no idea about bitcoin will already have an idea about it. But if the purchase minimum is $100k, it will be exclusive for a the rich person. Me, I admit I can't buy even a minimum even though the bank has many branches in our country.

olubams

hero member

Activity: 798

Merit: 503

This is a good development though as it shows that the fiat and the crypto world can really work together to achieve financial breakthrough and with one not seeing the other as a threat. The concern for me is the bank taking this giant step without having a solid backing of the government whether it will choose to adopt crypto or not. Should in case that government of the country then go all negative for crypto, every amount saved in crypto becomes confiscated with no one to be held liable.

spongegar

full member

Activity: 476

Merit: 100

I think that is a good idea. It is especially safe for people who keeps losing their log ins. I guess these banks have intense security and personal verification so we could access our accounts without the fear of hackers galetting all our hard earned coins. I just hope that ilthe fees are not as exhorbitant and is still pro crypto currency.

anjho.ace

full member

Activity: 371

Merit: 100

Here in my country you can't open an account for cryptocurrnecy.
the rule says, Every transaction you will deposit on your account with cryptocurrency can be gone with out any reason!
Any deposit related with crypto is not legal. this is from the Central bank of the Philippines.

supermine

hero member

Activity: 826

Merit: 518

I don't think we are in need for that to store a decentralized entity in a banks this will make no difference than storing the fiat into some banks,maybe people think that their money is not safe if they are holding all of them but when the third party holds it it has more disadvantages than you think just like you need to seek their permissions whenever you are making the transactions.And moreover you are giving control to someone. Roll Eyes

susanapa

newbie

Activity: 6

Merit: 0

Yes it is good news for everyone to invest as we do, it will help us grow and it is also a turning point for all banks to accept it.

yusupjatigumilar

full member

Activity: 644

Merit: 100

Quote from: jscresult2017 on September 12, 2018, 03:21:29 AM

Wow! It's really good news for us! I'm interested in it. Hope it will help us to grow more. And it's a really a good news for Crypto marketers.

I agree with you, this is good news and certainly will make cryptocurrency prices more expensive and continue to grow, this is because it will increase the confidence of investors to invest their capital in cryptocurrencies and automatically if many new investors invest their capital in Cryptocurrency, according to the law of supply and demand, prices will skyrocket

Lumi3004

jr. member

Activity: 462

Merit: 2

An interesting information about Bitcoin, again when the Bitcoin price is falling now there are banks that think positively about Bitcoin with good intentions saving coins is very interesting to take example of other banks that bitcion is needed by the wider community.

shiming

full member

Activity: 798

Merit: 101

This news is good news. For encryption. But I still hope to put BTC in my own hands, because I am not willing to believe that the bank can safely help me save.I don't know what you think.

lionheart78

legendary

Activity: 2954

Merit: 1153

Quote from: GregH37 on October 11, 2018, 03:53:53 AM

Banks just want to find a way to be in control by all means. Sure, maybe for some category of people who are dumb enough not to know they are their own bank or not so sure how good they are to securing their cryptocurrencies or bitcoin, may see it as a great service to make use of, but in reality, for any sane person, why will they ever want to use a bank, when they can easily just store whatever they have in their own wallet and as far as I am concerned, this is no different than keeping your funds in an exchange as a third party is involved and that makes the idea a centralized one.

I totally agree. Citibank had realized that they cannot stop people from acquiring cryptocurrency so they need to adopt and be the one to get profit by accepting cryptocurrency deposits. It is a smart move on their part and a great boost to cryptocurrency. Even though we can think of them controlling things about cryptocurrency, it gives cryptocurrency a positive effect since people who are so hesitant to invest in it can think that cryptocurrency were starting to be accepted by government.

Rune

legendary

Activity: 1229

Merit: 1001

Sounds like you give the bank your money and you get back a IOU not that there really storing you money good way to get ripped off like always.
Here is my money give it back to me whenever I ask for it if you still have it thanks!!

There needs to be a better solution to storing large sums of money so trusting the bank is not a good looking option. its a terrible option but people still see it as there best bet.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: Finestream on October 25, 2018, 07:41:36 PM

But maybe some of the people here would still love to put their savings on that particular bank.It's still good to know that cryptos are now being recognized.

The majority of the people in the world can't deal with the responsibility of taking care of their own value storage, which is why they depend on central entities such as banks to do it for them. Crypto allowing you to be your own bank isn't of any value to most people not caring about decentralization. It's not for nothing that a crypto bank as Coinbase has gained so much popularity since its existence.

By the time Coinbase is granted an actual banking license, they can be seen as the first ever crypto bank, and the average joes will love that more than they love themselves.

Even some of those who say that they value decentralization and heavily dislike banks have a part of their private keys stored within bank lockers. In other words, it's not just average joes who put their confidence in banks because they can't entirely take care of the storage part themselves. Roll Eyes

MKH

copper member

Activity: 231

Merit: 15

It is a great news that bank are accepting bitcoin to deposit in bank account..Its a very big news for the big investors because they will not afraid if their bitcoin security..

fipper

member

Activity: 383

Merit: 10

good and increasingly reliable crypto currency development news if you can save in the bank of course security will be guaranteed, but in my country crypto currency is still not legal and the government still prohibits transactions directly using crypto currencies

charlotte04

full member

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Finestream

hero member

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Quote from: yitzjoe on October 25, 2018, 06:08:38 PM

this will create a new arrangement for our crypto assets by the bank, what is the difference between this and the central bank in general. I will return a little to deposit here, I will save the funds myself because the blockchain is safe and more efficient

Right.I agree.There's no need for another bank because our wallet alone are much more safe and secured,and the fact that we cannot controlled by any institution or group.But maybe some of the people here would still love to put their savings on that particular bank.It's still good to know that cryptos are now being recognized.

yitzjoe

member

Activity: 390

Merit: 11

this will create a new arrangement for our crypto assets by the bank, what is the difference between this and the central bank in general. I will return a little to deposit here, I will save the funds myself because the blockchain is safe and more efficient

Topic: You Can Now Keep Your Bitcoins In A Bank - page 12. (Read 21703 times)